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CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Citigroup stockholders' equity
Preferred stock at aggregate liquidation value
Citigroup common stockholders' equity
Common stock and additional paid-in capital
Retained earnings
Retained earnings
Cumulative Effect, Period of Adoption, Adjustment
[1]
Retained earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Treasury stock, at cost
Citigroup's accumulated other comprehensive income (loss)
Noncontrolling interests
Balance, beginning of period at Dec. 31, 2018     $ 18,460   $ 107,953 $ 151,347 $ 151 $ 151,498 $ (44,370) $ (37,170) $ 854
Increase (Decrease) in Stockholders' Equity                      
Issuance of new preferred stock     1,500                
Redemption of preferred stock     (480)                
Employee benefit plans         (201)       579 [2]    
Preferred stock issuance costs         (4)            
Common dividends [3]           (3,299)          
Preferred dividends $ (812)         (812)          
Other         24 (12)         (8)
Treasury stock acquired [4]                 (12,750)    
Citigroup's total other comprehensive income (loss)                   1,035 (26)
Transactions between noncontrolling-interest shareholders and the related consolidated subsidiary                     (133)
Net income before attribution of noncontrolling interests 14,472         14,422         50
Distributions paid to noncontrolling-interest shareholders                     (40)
Net change in noncontrolling interests                     (157)
Balance, end of period at Sep. 30, 2019 197,070 $ 196,373 19,480 $ 176,893 107,772 161,797     (56,541) (36,135) 697
Balance, beginning of period at Jun. 30, 2019     17,980   107,688 158,321   158,321 (51,427) (35,203) 751
Increase (Decrease) in Stockholders' Equity                      
Issuance of new preferred stock     1,500                
Employee benefit plans         69       6 [2]    
Preferred stock issuance costs         (4)            
Common dividends [3]           (1,183)          
Preferred dividends (254)         (254)          
Other         19           1
Treasury stock acquired [4]                 (5,120)    
Citigroup's total other comprehensive income (loss)                   (932) (33)
Transactions between noncontrolling-interest shareholders and the related consolidated subsidiary                     (34)
Net income before attribution of noncontrolling interests 4,928         4,913         15
Distributions paid to noncontrolling-interest shareholders                     (3)
Net change in noncontrolling interests                     (54)
Balance, end of period at Sep. 30, 2019 197,070 196,373 19,480 176,893 107,772 161,797     (56,541) (36,135) 697
Balance, beginning of period at Dec. 31, 2019 193,946   17,980   107,871 165,369 $ (3,076) 162,293 (61,660) (36,318) 704
Increase (Decrease) in Stockholders' Equity                      
Issuance of new preferred stock     1,500                
Redemption of preferred stock     (1,500)                
Employee benefit plans         (81)       448 [2]    
Preferred stock issuance costs         2            
Common dividends [3]           (3,226)          
Preferred dividends (828)         (828)          
Other         3 (4)         (2)
Treasury stock acquired [4]                 (2,925)    
Citigroup's total other comprehensive income (loss)                   3,253 7
Transactions between Citigroup and the noncontrolling-interest shareholders                     (6)
Net income before attribution of noncontrolling interests 7,086         7,068         18
Distributions paid to noncontrolling-interest shareholders                     (2)
Net change in noncontrolling interests                     15
Balance, end of period at Sep. 30, 2020 194,595 193,876 17,980 175,896 107,795 165,303     (64,137) (33,065) 719
Balance, beginning of period at Jun. 30, 2020     17,980   107,699 163,431   $ 163,431 (64,143) (33,345) 680
Increase (Decrease) in Stockholders' Equity                      
Employee benefit plans         93       6 [2]    
Common dividends [3]           (1,074)          
Preferred dividends (284)         (284)          
Other         3           (2)
Citigroup's total other comprehensive income (loss)                   280 19
Net income before attribution of noncontrolling interests 3,254         3,230         24
Distributions paid to noncontrolling-interest shareholders                     (2)
Net change in noncontrolling interests                     39
Balance, end of period at Sep. 30, 2020 $ 194,595 $ 193,876 $ 17,980 $ 175,896 $ 107,795 $ 165,303     $ (64,137) $ (33,065) $ 719
[1] See Note 1 to the Consolidated Financial Statements for additional details.
[2] Includes treasury stock related to (i) certain activity on employee stock option program exercises where the employee delivers existing shares to cover the option exercise, or (ii) under Citi’s employee restricted or deferred stock programs where shares are withheld to satisfy tax requirements.
[3] Common dividends declared were $0.51 per share in the first, second and third quarters of 2020. Common dividends declared were $0.45 per share in the first and second quarters of 2019 and $0.51 per share in the third quarter of 2019.
[4] Primarily consists of open market purchases under Citi’s Board of Directors-approved common stock repurchase program.